From virtual assistants to self-driven cars, Artificial Intelligence is transforming and automating things that human does. Artificial Intelligence is that branch of computer science that enables machines to imitate human intelligence, hence the epithet, “Artificial Intelligence”
Despite initial scepticism, artificial intelligence is here to stay.
And if the stories are anything to go by, AI will only get bigger and better as the time comes. In fact, I won’t be surprised if one day it transcends humanity and eventually rules the world.
But if leveraged carefully, AI can ease the way of living like nothing else.
Especially in the marketing world, Artificial Intelligence is turning out to be pivotal and is steadily gaining impetus.
Smart AI robotic assistants are rapidly permeating both personal and professional life. Chatbots are saving up a lot of time and money by mitigating the need for employees and optimising the work.
Things like pattern and voice recognition which seemed unviable before are a reality now.
So, everybody in marketing is spewing eulogies about Artificial Intelligence (AI) these days. But the hard question is, how and for what do you actually start using it?
In This Post, We’ll Look At 5 Impressive Ways To Utilise AI That Will Catapult Your B2B Sales.
1. Artificial Intelligence Is Offering Great Boost In Lead Generation Process
Lead Generation is the most vital part of marketing which results in generating sales. While AI is not the ultimate panacea, it still has a vast potential in lead generation.
Algorithms that work behind the scenes are accurate and reliable enough to target only the correct potential customers, unlike humans who may or may not end up cold calling unproductive leads.
You don’t want to be advertising your lead generating software to a bunch of high-school kids, do you?
Finding New Leads
Marketers struggling with a long list of prospects is not something unheard of. Going through a huge data that might contain redundancy is a nasty chore. This is where AI comes in.
Analytics backed by AI can help the enterprises filter out unproductive leads much faster than before.
Powerful and intuitive AI algorithms can minimise man’s work and recommend potential leads by mining the enterprise’s connections and niche.
Also, are you tired of writing multiple messages daily? If yes, then here also AI can prove to be your time-weathered mate. It automates the time-consuming chore of sending customised messages to your prospects.
Increasing Conversion Rate
AI is the best thing that can happen to the market when it comes to conversion of leads into sales. A human salesperson can’t really muster up the strength to try again after already failing twice. However, automated AI robots are known to try up to 11 times. This increases the follow-up and the chance of driving a prospect towards sale can be augmented seamlessly.
How can companies step up their game using AI? Use follow-up emails backed by AI which can be executed as soon as the prospect shows interest.
Approaching the prospects within an hour of their enquiry will generate better results. Why? Because it’s highly likely that the company is still at the top of prospect’s mind.
AI tools can automate the screening process and chip away the tiring task of separating the productive leads from the unproductive leads, keeping things like gender, age, the area of interest etc, in mind.
2. Amplifying The Customer’s Experience
With the advent of AI in marketing and sales, customer servicing is surpassing the traditional email list. Every single customer experience can be customised and intensified using cognitive AI solutions.
Cognitive Systems are products of artificial intelligence domain. They are systems that can mimic a human brain using data and analytics. And can go as far as performing tasks that until now only humans could do.
Move aside, human
How do they do it?
Combining various fields of AI like pattern recognition, machine learning, data and decision science, they optimise choices in an automated way and become capable of forecasting probable future difficulties and finding the solutions.
As Rashmi Chatterjee, the CMO of North America for IBM pointed out we can refer to Cognitive Systems as URL: Understand, Reason, Learn.
First, the cognitive systems advertently discern the human pattern closely, draws insights from client data and behaviour to provide an improved and amplified experience to the customers.
Customers don’t have to tediously visit various websites to compare the products and brands before actually coming to a decision. AI has made the experience easy and compact.
Using interactive content and predictive decision making, AI will only get better with time.
3. Search Engines Move Aside, Make Way For The Virtual Assistants.
Doesn’t everyone wish that they had a personal assistant at their beck and call who could make reservations, order stuff and send e-mails for them?
Well, don’t just wish. Enter assistants like Siri, Cortana and various other chatbots. These chatbots are a hit among customers.
Say, for example, you are seeking answers from lead generation company and if the company offers the facility of LiveChat then your task becomes easier and personalised. After all who wants to skim down pages to find answers to simple questions.
Here’s another example:
Suppose, you’re craving burgers.
Now, who wants to go through all the hassle of opening at least 5 web pages to find a burger joint nearby?
When you have virtual assistants like Cortana, Siri et al, you simply let them do the hard part for you.
Website’s equipped with personalised chatbots are offering better brand-related assistance.
4. Dynamic Pricing
Have you ever left a product in your cart because of the prices being too high? And the next day, you check your cart to see an astonishing drop in the price?
Congratulations, you have been visited by a fairy… Not.
In fact, you just had your first liaison with dynamic pricing.
Dynamic pricing is an Artificial Intelligence phenomenon that set product prices according to demand and availability — helping marketers as well as customers.
5. Recommendation – Burgeoning Possibilities Ahead
“By 2020, customers will manage 85% of their relationship with the enterprise without interacting with a human”, Gartner Predicts.
Unlike a traditional approach, rather than simply relying on filters or metadata, AI is using computer vision to see what product your customer is interested in. As a result, customers from all walks of life are appreciating this marketing technique.
For eg, Spotify can intuitively predict your taste in music and recommend you music that aligns with your preference, which saves your time from going through millions of available choices.
AI is helping the marketers to understand the customer better so as to modify their system to fit individual customer’s need.
The technology that was a far-reaching dream before has become so indispensable now that marketers may not even realise that they are actually dabbling in the technology.
Tell us about your AI experiences? How are you integrating AI with your marketing strategies?